TRADE ALERT
2007
(December 19, 2006)
Government
sources indicate that the draft language of the Presidential Proclamation regarding
changes to the U.S. Harmonized Tariff System states that the effective date will be February 1, 2007, or
30 days after publication in the Federal Register, whichever is later. As soon as possible after the President
signs the Proclamation implementing the changes, the
U.S.
Customs and Border Protection (CBP) has issued a notice stating that a blanket
authorization will be offered 10 days prior to the effective date of the WCO
tariff changes and will allow filers to take advantage of any lower duty rates
contained therein.
No
instructions have yet been issued, but CBP sources state that the agency
expects to provide a 15-day grace period after the implementation of the HTS
changes for the refiling of entries rejected due to classification errors.
Additionally, other proclamations will be issued to implement various
other changes to the 2007 HTS, including Chapter 99 tariff changes contained in
recently passed H.R. 6111, and changes to the HTS Rules of Origin for various
free trade agreements (FTAs) such as NAFTA. Although the tariff changes are designed to ensure
substantial rate neutrality, in certain instances the duty rate for a product
may change.
Deringer's
consulting & regulatory affairs group offers a full scope of services to
support importers/exporters, carriers, and supply chain partners, and can
assist importers in obtaining rulings and researching how these modifications
may affect them.
For more information regarding this
advisory, please call 518-297-3511, or email us at consulting@anderinger.com